Abrdn (ABDN)

Sector:

Financials

Index:

FTSE 100

170.95p
   
  • Change Today:
      8.70p
  • 52 Week High: 299.00
  • 52 Week Low: 160.90
  • Currency: UK Pounds
  • Shares Issued: 2,180.73m
  • Volume: 4,208,788
  • Market Cap: 3,727.95m

Abrdn annual profit rises as revenue shows first post-merger increase

By Sean Farrell

Date: Tuesday 01 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Abrdn's annual profit rose as the asset manager posted higher full-year revenue for the first time since it was formed from a merger in 2017.

Adjusted operating profit for the year to the end of December rose 47% to £323m as revenue increased to £1.52bn from £1.43bn. Pretax profit under IFRS accounting rules rose to £1.12bn from £838m.

Net outflows, excluding those from Lloyds Banking Group, were £3.2bn compared with £12.3bn a year earlier. Abrdn kept its annual dividend unchanged at 14.6p a share.

Abrdn was formed almost five years ago when Aberdeen Asset Management combined with Standard Life in a deal that combined two bastions of the Scottish financial sector. But Standard Life Aberdeen struggled as funds flowed out, including from a long-standing mandate with Lloyds's Scottish Widows arm.

Chief Executive Stephen Bird was hired in 2020 and in 2021 bought Interactive Investor for £1.5bn to tap the platform's 400,000 retail customers. He also renamed the group Abrdn in a move that attracted ridicule but which he says marks a break with the past and unifies the company's brand.

Bird said: "This was our reset year. In 2021 we set out a clear strategy for how we will create long-term sustainable growth and arrest the decline in revenue. For the first time since the merger, we have reported an increase in revenue for the full year."

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Standard Life Market Data

Currency UK Pounds
Share Price 170.95p
Change Today 8.70p
% Change 5.36 %
52 Week High 299.00
52 Week Low 160.90
Volume 4,208,788
Shares Issued 2,180.73m
Market Cap 3,727.95m

Standard Life Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.02% above the market average75.02% above the market average75.02% above the market average75.02% above the market average75.02% above the market average
20.97% above the sector average20.97% above the sector average20.97% above the sector average20.97% above the sector average20.97% above the sector average
Price Trend
67.42% below the market average67.42% below the market average67.42% below the market average67.42% below the market average67.42% below the market average
68.89% below the sector average68.89% below the sector average68.89% below the sector average68.89% below the sector average68.89% below the sector average
Income
86.68% above the market average86.68% above the market average86.68% above the market average86.68% above the market average86.68% above the market average
81.58% above the sector average81.58% above the sector average81.58% above the sector average81.58% above the sector average81.58% above the sector average
Growth
37.54% above the market average37.54% above the market average37.54% above the market average37.54% above the market average37.54% above the market average
3.33% above the sector average3.33% above the sector average3.33% above the sector average3.33% above the sector average3.33% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 4
Sell 0
Strong Sell 5
Total 12
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Standard Life Dividends

  Latest Previous
  Final Interim
Ex-Div 07-Apr-22 19-Aug-21
Paid 24-May-22 28-Sep-21
Amount 7.30p 7.30p

Trades for 24-Jun-2022

Time Volume / Share Price
17:05 579 @ 163.98p
17:05 6,181 @ 166.33p
17:05 152 @ 166.37p
17:04 156 @ 163.98p
16:45 2 @ 170.20p

Standard Life Key Personnel

Chair Douglas J Flint
CFO Stephanie Bruce
CEO Stephen Bird

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